Saudi’s Geidea, STC to offer integrated payment solution for businesses

By Arya M Nair, Intern Reporter
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Saudi STC image
Representational image

Geidea, the largest fintech company in Saudi Arabia by market share, has partnered with channels by stc, the distribution arm of Saudi Telecom Company (STC).

Within the partnership, Geidea will offer an integrated suite of solutions to the network of retailers established under channels by stc, allowing them to seamlessly manage their store, accept payments and resell top-up and vouchers.

The channels by stc serves a portfolio of over 10,000 merchants. Geidea’s solutions will seek to make digital payments easier for SMEs in STC Channels’ network, enabling them with cost-effective solutions that will help them stay in business and develop.

Geidea’s services will include improved digital payment acceptance through channels such as credit and debit cards, digital wallets, e-wallets and direct transfers including Chip & Pin, contactless technologies, e-wallets and QR codes.

STC customers will also be able to use Geidea’s app and enjoy numerous benefits aimed at simplifying their business through features to manage their inventory, track sales, orders, invoicing and more.

Abdullah Al-Othman
Abdullah Al-Othman
Founder & Chairman
Geidea

“We are delighted to collaborate with STC, a pioneer in telecommunications and digital services. This partnership represents an exciting milestone in our efforts to support the Kingdom’s cashless payments targets, as part of Saudi Arabia’s 2030 Vision. Through this strategic agreement, Geidea will once again expand our merchant ecosystem, and provide a comprehensive suite of payments solutions to STC merchants, all with the aim of streamlining their business needs.”

channels by stc, for its part, will focus on product innovation and diversification, as well as providing sales, distribution, and logistical solutions to its partners, including digital payment solutions such as electronic payment devices.

Eng. Ahmed Hadi Aldaen, Vice President Strategy and Category Management, channels by stc said, “We are pleased to collaborate with Geidea to provide a variety of electronic payment solutions to our business customers. We see this partnership as a big step forward in the implementation of our strategy to improve the ease of doing business.

Related: Stc Bahrain, Huawei roll out first-of-its-kind WTTx solution in kingdom


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